Grandparents increase financial support for younger generations

11/14/2011 | Wall Street Journal, The

In an economy that has hit young people and their parents hard, grandparents are increasingly taking responsibility for their grandchildren's college tuition, car repairs and other expenses. But the support could hurt all generations over time as the grandparents drain their retirement savings, some experts say. "One of the biggest gifts a grandparent can give is being able to afford his or her own care," one financial planner says.

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Wall Street Journal, The

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